Motor Boat & Yachting, Yachting World, Yachting Monthly and Practical Boat Owner are among titles changing hands in the transactions
TI Media (the former IPC Media Group and later Time Inc UK) has been sold by the Epiris private equity company to Future PLC, a UK-based publisher of consumer magazines and websites.
TI Media currently has 41 titles in its portfolio with a turnover of £209m, according to its last annual return to December 2018. Among its better known publications TI Media lists Country Life, Horse and Hound, The Field, TV Times and several home and women’s interest titles. Its marine magazines include Yachting World, Yachting Monthly, Practical Boat Owner, Motor Boat & Yachting and the website Yachting and Boating.com (YBW).
Having had five owners in as many years – Time Warner, Time Inc, Meredith, Epiris and now Future – the 30 or so strong staff on the marine group are looking forward to a more stable and committed environment under which to operate.
New owner Future publishes over 150 digital and print brands – many of which are very niche – had total sales of £124.6m for its financial year ending 30th September 2018. According to the statement released today, Future paid a multiple of x4.9 (pre £15m of anticipated synergies) on TI’s adjusted EBITDA of £28.7m for the 12 months through the end of May 2019, on continuous revenues for the period of £201m.
International Boat Industry (IBI) left the TI Media Group, then known as Time Inc UK, in April 2017 following a management buyout.